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Ametek (AME) Reports Q1 Earnings: What Key Metrics Have to Say
AMETEKAMETEK(US:AME) Zacks Investment Researchยท2024-05-02 14:36

Core Insights - Ametek reported revenue of $1.74 billion for the quarter ended March 2024, reflecting an 8.7% increase year-over-year, but fell short of the Zacks Consensus Estimate by 2.23% [1] - The company's EPS was $1.64, up from $1.49 in the same quarter last year, exceeding the consensus estimate of $1.59 by 3.14% [1] Financial Performance Metrics - Net Sales for Electronic Instruments were $1.16 billion, slightly below the average estimate of $1.19 billion, representing a year-over-year increase of 3.5% [2] - Net Sales for Electromechanical reached $579.40 million, compared to the estimated $589.77 million, showing a significant year-over-year increase of 20.7% [2] - Operating Income for Electronic Instruments was $352.94 million, surpassing the average estimate of $318.10 million [2] - Operating Income for Electromechanical was $90.69 million, which was below the average estimate of $138.42 million [2] - Corporate administrative expenses reported an operating income of -$26.42 million, slightly better than the average estimate of -$26.55 million [2] Stock Performance - Ametek's shares have returned -3.9% over the past month, compared to a -4.2% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 2 (Buy), suggesting potential outperformance against the broader market in the near term [3]